Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Marigold Company has developed the following standards for one of its product. Direct materials: 10 pounds $12 per pound Direct labor: 4 hours x

Marigold Company has developed the following standards for one of its product.

Direct materials: 10 pounds × $12 per pound

Direct labor: 4 hours x $12 per

Variable overhead: 5 hours × $10 per hour

The following activity occurred during the month of October:

Materials purchased: 10,000 pounds costing $150,000

Materials used: 6,000 pounds

Units produced: 500 units

Direct labor: 2,300 hours at $23.60/hour

The company records materials price variances at the time of purchase.

a. $53,000 U.

b. $30,000 U.

c. $12,000 F.

d. $41,000 F.

Step by Step Solution

3.53 Rating (167 Votes )

There are 3 Steps involved in it

Step: 1

b 30000 Actual units produced 500 Units Actual units purchase ... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Document Format ( 2 attachments)

PDF file Icon
609734cb45f4d_27607.pdf

180 KBs PDF File

Word file Icon
609734cb45f4d_27607.docx

120 KBs Word File

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Core Concepts of Accounting

Authors: Cecily A. Raiborn

2nd edition

470499478, 978-0470499474

More Books

Students also viewed these Accounting questions

Question

10-18. What is expert witness partisanship? Explain.

Answered: 1 week ago